Tyra Biosciences completed a block trade of 4 million shares of its common stock at $31.50 per share, generating $126 million in gross proceeds. The transaction was executed under the company’s existing at‑the‑market offering program, which is registered on Form S‑3 and governed by a prospectus dated May 16, 2025.
The equity raise provides the clinical‑stage biotechnology firm with additional liquidity to fund its pipeline and extend its operating runway. With $256 million in cash, cash equivalents and marketable securities on December 31, 2025, the company expects the new capital to support operations through at least 2027.
Tyra’s fourth‑quarter 2025 results showed a net loss of $33.8 million, compared with a $119.9 million loss for the full year. The company’s focus remains on developing dabogratinib, an oral FGFR3 inhibitor, through a “dabogratinib 3x3” strategy that targets three Phase 2 programs.
CEO Todd Harris, Ph.D., said, “At TYRA, we are following the science.” The statement underscores the company’s commitment to advancing its lead candidate while managing the high costs associated with clinical development.
Market reaction to the financing was muted as investors weighed the company’s valuation relative to its pipeline. The equity raise is a significant capital structure change that strengthens Tyra’s balance sheet and reduces near‑term financing risk.
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